Sarasota company applies for Alzheimer's drug patent

A Sarasota biopharmaceutical company is applying for a patent for an Alzheimer’s drug. Silo Pharma, based on North Washington Boulevard, was provided with the exclusive license to the drug by Columbia University, according to a statement.

The company says it is filing an April 28 application with the U.S. Patent and Trademark Office focused on SPC-14, which is a neurology drug administered through an intranasal compound. By targeting certain receptor molecules, it can reduce certain cognitive and neuropsychiatric Alzheimer's symptoms.

“Early pre-clinical studies of SPC-14 have demonstrated the drug’s potential to improve and restore cognitive memory function,” Silo Pharma CEO Eric Weisblum says in a statement.

SPC-14 was developed through a sponsored research agreement between Silo Pharma and Columbia University; and in 2024, the university entered into an exclusive global license agreement authorizing the Sarasota company to further develop, manufacture and commercialize the drug, according to a statement.

“The patent application for SPC-14 supports our intellectual property strategy for strong security and protection of each of our drug platforms," Weisblum says.

Silo Pharma is a developmental-stage biopharmaceutical company that focuses on addressing conditions like stress-induced psychiatric disorders, chronic pain and central nervous system diseases. Its portfolio includes SPC-Q15, an intranasal treatment for PTSD; SP-26, an implant for fibromyalgia; and chronic pain and preclinical assets targeting Alzheimer’s disease and multiple sclerosis, according to a statement, which says the company conducts its research in collaboration with universities and laboratories.

Silo Pharma, traded on the Nasdaq under the name SILO, reported $72,102 in revenue and a $4.39 million net loss in 2024, compared with $72,102 in revenue and a $3.7 million net loss in 2023.